Q. I will turn 70 in July 2014. Is 2015 the first year I will be required to receive the required minimum distribution? Who decides the date and month of annual distributions?
A. You must complete your first RMD by April 1 of the year following the calendar year in which you reach age 70½. You may take the distribution however and whenever you like, as long as the required minimum amount has been withdrawn by the deadline for each year.